By Akanni Dorcas

Military spending is a big part of how countries manage their budgets. It shows what they focus on for defence, security, and maintaining influence around the world. In 2023, global military spending reached an all-time high due to rising tensions, ongoing conflicts, and new advancements in technology.

Here’s a look at the top 10 countries with the biggest defence budgets, based on data from the SIPRI Military Expenditure Database and the 2024 edition of The Military Balance by the International Institute for Strategic Studies (IISS). 

10. Japan
Japan spent $50.2 billion on defence in 2023, which is 1.2% of its GDP and 2.1% of global military spending. 

9. France
France allocated $61.3 billion to defence in 2023, accounting for 2.1% of its GDP and 2.5% of global military spending. 

8. Ukraine
Ukraine spent $64.8 billion on defence in 2023, a remarkable 37% of its GDP and 2.7% of global spending. 

7. Germany
Germany’s defence spending in 2023 reached $66.8 billion, or 1.5% of its GDP and 2.7% of global military spending. 

6. United Kingdom
The United Kingdom allocated $74.9 billion to defence in 2023, representing 2.3% of its GDP and 3.1% of global spending. 

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5. Saudi Arabia
Saudi Arabia spent $75.8 billion on defence in 2023, which is 7.1% of its GDP and 3.1% of global spending. 

4. India
India spent $83.6 billion on defence in 2023, equivalent to 2.4% of its GDP and 3.4% of global military spending. 

3. Russia
Russia’s defence spending in 2023 was $130 billion, accounting for 6.3% of its GDP and 4.5% of global military spending. 

2. China
China spent $296 billion on its military in 2023, which is 1.7% of its GDP and 12% of global spending. 

1. United States
The United States leads global military spending with $916 billion in 2023. This accounts for 3.4% of its GDP and 37% of global military spending.